HSBC Money Laundering Penalties Could Top $1.5 Bil
Breaches of U.S. anti-money laundering rules could cost HSBC (HBC) well more than the $1.5 billion its already set aside and lead to criminal charges, Europe's largest bank said Monday. HSBC CEO Stuart Gulliver conceded that the incident was embarrassing and had damaged the bank's reputation. He said some involved have "left the bank" and had compensation clawed back. He couldn't say how much longer the investigation would continue, or
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